Salient to Investors: The S&P 500 is at 15 times reported earnings versus a low of 13 in 2012 and the 6-decade average of 16.4. T. Doug Dale at Security Ballew Wealth Mgmt said we’re extremely overbought, but the market can continue higher. James McDonald at Northern Trust said a pause is understandable given the strong
READ MORE... →Salient to Investors: China surpassed the US to become the world’s biggest trading nation in 2012. Jim O’Neill at Goldman Sachs said China is becoming rapidly the most important bilateral trade partner for many countries – Germany may export twice as much to China by the end of the decade as it does
READ MORE... →Salient to Investors: US interest-rate swap levels at their highest in 4 months relative to T-yields suggests investors are seeking refuge in government bonds. Ali Jalai at Scotiabank said it is definitely not time to short Treasuries because thinking that the Fed is going to tighten is just silly because
READ MORE... →Salient to Investors: JPMorgan Chase Private Bank put individuals and families with more than $5 million into a partnership that bought over 5,000 single family homes to rent in Florida, Arizona, Nevada and California. David Lyon at JPMorgan said investors can expect returns of up to 8 percent annually from rental income as well
READ MORE... →Salient to Investors: Goldman Sachs has been hired by the Russian government to burnish the nation’s image overseas and attract more institutional investors. Sergei Arsenyev at Goldman Sachs said valuations in Russia remain very attractive. Goldman Sachs has struggled to build a business in Russia. Lloyd Blankfein at Goldman Sachs said the world’s premier financial centers
READ MORE... →Salient to Investors: Venezuela bondholders have returned 14.7 percent annually, double the emerging-market average, enriching investors from OppenheimerFunds to Goldman Sachs. Sara Zervos at OppenheimerFunds said Chavez has done little good for Venezuela, but has serviced the bonds, and the Venezuelan securities are more attractive than Brazilian bonds, which offers little upside. Zervos said
READ MORE... →Salient to Investors: Executives and economists said Britain’s pledge to hold a referendum on leaving the EU may damage investment and jeopardize an economy facing its first triple-dip recession. Adam Posen said the prospect of a referendum will hurt investment in the UK, and to stretch it out until 2017 is
READ MORE... →Salient to Investors: Copper traders are bullish for a third consecutive week on the fastest expansion in Chinese manufacturing in two years. ETF Securities said $28 million went into its ETFS Physical Copper ETP last week, the most since its introduction in 2010. Barclays said China consumes 42 percent of the world’s copper,
READ MORE... →Salient to Investors: Laurentia Amica Darmawan at PT First State Investments Indonesia said the currency issue is the biggest risk factor in the foreseeable future for Asian companies, and will continue until we have clarity on how long global monetary easing will last. Credit Suisse lowered Turkish banks to neutral from
READ MORE... →Salient to Investors: Gary Cohn at Goldman Sachs said: He is bullish on global stock markets as investors shift money from bonds to equities as interest rates rise. The cause of rising interest rates, greater economic activity and growth, will be very positive for our business. Shares in top companies offer
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